Tag: wealth

African american woman saves money in piggy bank with a confident expression on smart face thinking serious

The flaunting of wealth that marked the Gilded Age is difficult to grasp. Forbes reports there are currently 425 U.S. billionaires, the most in any country. They tend to live in cocoons, flinching when the media write about their vast homes or other trappings of wealth. But Newport Rhode Island’s Gilded Age mansions were built…

asian chinese senior male barista teaching his daughter making coffee at cafe bar counter

Abstract The paper uses micro-survey data from successive waves of the Panel Study on Income Dynamics to investigate the distribution of wealth and job losses during the 2007-09 recession for different segments of the population and the effect of the recession on the retirement decisions of older workers.  Estimates of wealth losses are constructed for…